Oct
30
Accordia Realty Acquires Montvale Asset
By Betsy Kraat
MONTVALE--Accordia Realty Ventures has acquired 305 West Grand Avenue in Montvale, and also executed a lease which brings the property to 100% occupancy.
Business News
Archives for: October 2009
Oct
30
J.G. Petrucci Co. Completes Manufacturing Facility For Myers Power Products
By Betsy Kraat
ASBURY, NJ AND BETHLEHEM, PA--J.G. Petrucci Co., Inc. has completed the construction of a new production facility for Myers Power Products, Inc. at 44 South Commerce Way in Hanover Township, Pennsylvania.
Oct
30
Women's Future Leadership Forum Pairs Female Executives with High School Girls for November 20 Workshop
By Betsy Kraat
MURRAY HILL--Fifty New Jersey high school girls from communities such as Trenton, Rahway and Linden will participate in the Women’s Future Leadership Forum 2009.
Oct
29
FirstService Williams Represents Broadridge in one of the Tri-State Area’s Largest Deals of the Year
By Betsy Kraat
JERSEY CITY--In one of the year’s largest office transactions in the Tri-State region, FirstService Williams negotiated a seven-year renewal of Broadridge Financial Solutions, Inc.’s lease for 320,282 sf at 2 Journal Square in Jersey City.
Oct
29
Matrix Announces 45,000 Square Feet of Leasing Activity at One Riverfront Center
By Betsy Kraat
NEWARK--Matrix Development Group has announced that LeClairRyan, a nationally known law firm, has signed a 45,000-sf lease at One Riverfront Center.
Oct
29
Mayor Booker, M&M Development Break Ground at Harmony Square in Newark
By Betsy Kraat
NEWARK, NJ-- Mayor Cory A. Booker and other dignitaries broke ground yesterday for M&M Development’s Harmony Square housing development at 98-102 Broad Street in Newark.
Oct
28
Tucker Development Corporation Names Robert K. Futterman & Associates Exclusive Retail Leasing Agent for Hudson Lights at Fort Lee
By Betsy Kraat
FORT LEE--Tucker Development Corporation has named Robert K. Futterman & Associates as the exclusive retail leasing agent for Hudson Lights, Tucker’s proposed mixed-use redevelopment in downtown Fort Lee, that will include 185,000 sf of retail and restaurant space.
Oct
28
NAI Hanson Selected as Exclusive Sale/Leasing Agent for Four Unique Office/Flex Properties in Morris County
By Betsy Kraat
PARSIPPANY-- NAI James E. Hanson has recently been selected as the exclusive sale and/or leasing agent for four unique office/flex properties, which are located in Morris County.
The properties available include a 6,183-sf property at 600 Parsippany Road in Parsippany, a 1,440-sf property at 5 Cold Hill Road in Mendham, a 2,254-sf property at 76 Main Street in Chatham and a 2,500-square-foot property at 338 Main Street in Chatham.
More specifically, the properties being marketed by NAI Hanson include the following:
* 600 Parsippany Road, Parsippany - This 6,183-sf space is located within the 96,000-sf office building and is available as a sublet flex space, allowing tenants to sublease anywhere from 300 square feet (two offices and a work station) to the entire available space.
* 5 Cold Hill Road South, Mendham - Situated just of East Main Street, this 1,440-sf office condo is currently available for sale or lease and contains four private offices, a kitchenette and bathroom.
* 76 Main Street, Chatham - Located just off the Morris and Essex Turnpike, within easy access of the Short Hills Mall, this 2,254-sf space is situated within a charming 5,000-sf two-story office building.
* 338 Main Street, Chatham - This 2,500-sf property, which is easily convertible into either a professional or medical office space or a retail space, sits in a highly visible corner location on Main Street, just off the Morris and Essex Turnpike, in affluent downtown Chatham, which is zoned as a Business Service District.
NAI James E. Hanson
www.naihanson.com
Oct
28
Larken Sings Two Leases at Hillsborough Complexes
By Betsy Kraat
HILLSBOROUGH--Larken Associates has recently announced new lease signings at two of its commercial complexes in the Somerset County town of Hillsborough.
Oct
27
City of Newark, Newark Housing Authority Break Ground For New Police Precinct
By Betsy Kraat
NEWARK--Mayor Cory A. Booker and other dignitaries broke ground for the construction of the new Fifth Police Precinct, at 480 Clinton Avenue, in Newark’s South Ward, at a noontime ceremony yesterday.
Oct
27
NAI Hanson Completes Sale of 43,700 SF Industrial/Flex Building
By Betsy Kraat
PARSIPPANY--NAI James E. Hanson has recently completed the sale of a 43,700-sf industrial/flex facility at 1 Labriola Court in Armonk, New York.
Oct
27
J.G. Petrucci Co. Completes Office Renovation in Flemington
By Betsy Kraat
FLEMINGTON--J.G. Petrucci Co., Inc. (JGPCO) has announced the completion of a three-phase renovation project on behalf of Hunterdon Otolaryngology Associates.
Oct
26
Mayor Booker Swears In Michelle Thomas as Business Administrator
By Betsy Kraat
NEWARK--Mayor Cory A. Booker, the Municipal Council and City Clerk Robert Marasco enstated Michelle L. Thomas to her duties as City Business Administrator, removing the “Acting” term from her title, at a City Hall Municipal Council Chamber ceremony on Friday, October 23, 2009, at Noon.
Oct
26
AIA-NJ Sponsors Event for Architecture Students and Interns
By Betsy Kraat
NEWARK -- Architecture students and intern architects from throughout the State of New Jersey are invited to participate in a seminar on the Intern Development Program (IDP) and the Architectural Registration Exam (ARE) to be held at the New Jersey Institute of Technology (NJIT) School of Architecture in Newark on Nov. 3.
Oct
26
Kohl Asset Management Named Property Manager for Heritage Pointe of Teaneck
By Betsy Kraat
TEANECK--Kohl Asset Management (KAM), a division of Kohl Partners, has been named property manager for Heritage Pointe of Teaneck, a full-service rental retirement community located in Bergen County.
Oct
23
PARSIPPANY, N.J, OCTOBER 22, 2009 -NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, recently completed a 1,147-square-foot long-term retail lease agreement on behalf of Dina's Bagels at 154 Washington Ave in Nutley
By Betsy Kraat
PARSIPPANY--NAI James E. Hanson recently completed a 1,147-sf long-term retail lease agreement on behalf of Dina's Bagels at 154 Washington Ave in Nutley.
Oct
23
Fifth Annual Million Dollar Golf Classic Raises More Than $185,000
By Betsy Kraat
HASBROUCK HEIGHTS--The Ryan Wolfe Kossar (RWK) Foundation, a charitable foundation dedicated to preventing unexpected infant and childhood fatalities, announced that its fifth annual “Million Dollar Golf Classic” generated more than $185,000 in support of medical research to prevent Sudden Infant Death Syndrome (SIDS).
Oct
22
Keynote Speakers Announced For Hudson Valley Green Real Estate Development Conference
By Betsy Kraat
KINGSTON, NY--Two prominent key speakers have been announced for the upcoming Hudson Valley Green Real Estate Development Conference, to be held 7:30am-2pm, Wednesday, Oct 28 at Tech City in Kingston NY: Ned Sullivan, the President of Scenic Hudson, Inc. will take the helm as Keynote Speaker; Adolph Everett, a member of the U.S. Environmental Protection Agency's "Green Team", will give a Special Presentation about the innovative group of EPA experts who help developers 'go green' to minimize the environmental impact of their projects and reduce costs.
Oct
22
GreenbergFarrow Designs Expanded Bergen Town Center
By Betsy Kraat
PARAMUS--GreenbergFarrow recently completed the renovation and expansion of Bergen Town Center -- a 52-acre, regional mall in Paramus-- on behalf of Vornado Realty Trust.
Oct
22
Gruskini Group of Springfield, NJ, sponsored 2009 Lake George Jazz Weekend
By Betsy Kraat
SPRINGFIELD-- Gruskin Group, an integrated design firm that provides architecture, brand development, and web/interactive services, sponsored “Jazz at the Lake – the 2009 Lake George Jazz Weekend,” which was held September 19-20, 2009, in Lake George, NY.
Oct
21
Law Firm Extends Lease at Mack-Cali's Short Hills Property
By Betsy Kraat
EDISON--Mack-Cali Realty Corporation has announced that Budd Larner, P.C. has signed a lease extension through October of 2024 for 54,931 sf at Mack-Cali Short Hills, 150 John F. Kennedy Parkway in Short Hills.
Oct
21
Grubb & Ellis Company Adds Robert Black to Edison Office
By Betsy Kraat
EDISON--Grubb & Ellis Company has announced that Robert F. Black, CCIM, has joined the company’s Edison office as vice president, Office Group.
Oct
21
The Hampshire Companies Sell Retail Building in Huntsville, AL
By Betsy Kraat
MORRISTOWN--The Hampshire Companies has announced the disposition of a 44,271-sf retail building located at 12796 Bailey Cove Road SE, Huntsville, AL. The sale was made to Huntsvillepub, LLC.
Oct
20
Gebroe-Hammer Closes Four Separate North Jersey Multi-Family Sales Totaling $10 Million
By Betsy Kraat
LIVINGSTON--Gebroe-Hammer Associates, the region’s leading real estate investment brokerage firm, has closed four separate multi-family property transactions, valued at almost $10 million, in a one-week timeframe within the supply-constrained Northern New Jersey market.
Oct
20
FirstService Williams Arranges AMCS Office Lease at Bedminster One
By Betsy Kraat
BEDMINSTER-—S/K Bed One Associates signed AMCS Corporation to a long term, 13,171-sf lease at its Bedminster One facility in Bedminster. FirstService Williams New Jersey represented the landlord.
Oct
20
IOREBA Offers Flexible Fee Schedule, Lower Pricing
By Betsy Kraat
ISELIN--To ensure members are able to take full advantage of everything the organization has to offer, the Industrial and Office Brokers Association of the New York Metropolitan Area (IOREBA) has established a flexible fee schedule and lower pricing for chapter events.
Oct
19
Cushman & Wakefield Named Agent for New Linden W/D Property
By Betsy Kraat
LINDEN--Cushman & Wakefield, Inc. has been named exclusive leasing agent for a newly constructed, 385,000-sf warehouse/distribution building at 55 Wildcat Way at Linden Airport in Linden.
Oct
19
CB Richard Ellis Completes 4,610 SF Office Relocation Lease At 45 Eisenhower Drive
By Betsy Kraat
PARAMUS--CB Richard Ellis recently completed a 4,610-sf lease relocation agreement within Paramus, New Jersey, on behalf of Samuel Geltman & Co, a residential property management firm.
Oct
19
Corporate America Realty Inks Lease Deal for Dassault Aviation
By Betsy Kraat
PARAMUS--Howard Applebaum, President of Corporate America Realty & Advisors has represented Dassault Procurement Services USA, a division of Dassault Aviation, one of France's and the world's largest privately owned companies in a long term lease for approximately 15,000 sf of flex office/warehouse space located at 53 W. Century Road, Paramus.
Oct
16
Kislak Company Completes $12.125 Million in Multifamily Sales
By Betsy Kraat
WOODBRIDGE--The Kislak Company, Inc. recently completed two multifamily investment sales in Hudson County, New Jersey totaling $12,125,000.
Oct
16
Branch Brook Commons Opens in North Ward
By Betsy Kraat
NEWARK--Mayor Cory A. Booker and other dignitaries opened the Branch Brook Condominium, which is one of the largest residential condo opening in Newark in the last 30 years.
Oct
16
Cushman & Wakefield Inks CherryRoad Technologies Lease in Parsippany
By Betsy Kraat
PARSIPPANY--CherryRoad Technologies Inc., a leading integrator of enterprise software, has leased 18,000 sf of space at Powder Mill Plaza III in Parsippany, announced Cushman & Wakefield, Inc. The firm recently relocated from another local site to the property at 301 Gibraltar Drive.
Oct
15
Diversified Capital Secures Financing for 24 Commerce Building in Newark
By Betsy Kraat
LAKEWOOD--Diversified Capital, Inc., owners of the 180,000-sf 24 Commerce Building in Newark, has reached an agreement with Lane Capital to provide long-term financing for the asset and to take a minority ownership stake in the property.
Oct
15
Rapid Sales Pace at Sterling Properties’ Forest Hill Community Leaves Just Two Homes Remaining
By Betsy Kraat
WHIPPANY--Sterling Properties is experiencing an extremely rapid sales pace in Phase II of construction at Forest Hill, its community of single-family homes in Hanover Township. Only two homes remain available for sale.
Oct
15
J.G. Petrucci Co. Raises $45,000 For Military Support Organizations
By Betsy Kraat
ASBURY, NJ AND BETHLEHEM, PA--J.G. Petrucci Co., Inc. (JGPCO) hosted its 6th Annual Iron Hill Charity Golf Open on October 12th at The Club at Morgan Hill in Easton, Pennsylvania.
Oct
14
C&W Economic Update: Tide Has Started to Turn
By Eric C. Peterson, Senior Correspondent
EAST RUTHERFORD, NJ-- New Jersey has lost jobs, but at no faster rate than the rest of the country. And while the Garden State's commercial real estate market has taken a hit across the board, the state has generally fared better than most other markets.
Oct
14
Tucker Development Opens New Office in Fort Lee
By Betsy Kraat
FORT LEE--Tucker Development Corporation has announced the opening of a new corporate office at the site of its planned Hudson Lights development in Fort Lee.
Oct
14
New Pediatric Dentistry Practice Opens in Newark
By Betsy Kraat
NEWARK--Mayor Cory A. Booker was joined today by Deputy Mayor for Economic Development Stefan Pryor, Brick City Development Corporation Executive Vice President Darryl Godfrey, Grow America Fund President Pat Thomson, and Christopher and Dr. Lezli Harvell to commemorate the opening of Dental Kidz, a new pediatric dentistry and orthodontic practice at 24 Commerce Street, in the City of Newark’s downtown district.
Oct
13
Matrix Development Group Announces New Lease with Princeton Allpoints, LLC
By Betsy Kraat
CRANBURY-- Matrix Development Group has announced a lease with Princeton Allpoints, LLC, a joint venture between Princeton Fulfillment Solutions and Towne Allpoints Communications Inc., that forms a nationally recognized distributed fulfillment and direct mail services provider.
Oct
13
Weichert Named Exclusive Leasing Agent at The Factory in West Long Branch
By Betsy Kraat
WEST LONG BRANCH--Weichert Commercial Brokerage, Inc. has been appointed as the exclusive leasing agent at The Factory At Broadway, a historically preserved, 53,000 sf landmark building in West Long Branch.
Oct
13
NAIOP New Jersey to Present "Life Under LSRP"
By Betsy Kraat
SOUTH PLAINFIELD--The New Jersey Licensed Site Remediation Professionals Program (LSRP) officially begins on Nov. 3, 2009. Relationships between real estate developers and their consultants and attorneys will change dramatically, and there is much to learn to avoid problems down the road.
Oct
9
FirstService Williams Arranges 45,000-SF Office Relocation at Bedminster One
By Betsy Kraat
PARSIPPANY--—Landlord S/K Bed One Associates signed GAIN Capital Holdings Inc. to a long-term, 45,000-sf lease at its Bedminster One office facility in Bedminster.
Oct
9
NAI Hanson Named Exclusive Listing Agent For Six Office-Suites
By Betsy Kraat
EMERSON--NAI James E. Hanson is pleased to announce that it has been selected as the exclusive listing agent for six separate office suites, which total approximately 6,800 sf and are located within two building locations in the heart of Bergen County at 16 Chestnut Street and 70 Kinderkamack Road in Emerson.
Oct
9
Gebroe-Hammer Associates Sells River Villas Garden Apartment Complex for $3 Million
By Betsy Kraat
PALMYRA--Gebroe-Hammer Associates has announced the $3 million trade of River Villas, a fully leased 44-unit garden-apartment complex in Palmyra. Executive vice presidents Joseph Brecher and Joel Schwartz represented the seller, Harbour View, and procured the buyer, a long-time Gebroe-Hammer client.
Oct
8
1 Jefferson Road Partnership Announces Full-Building Lease at Parsippany Property
By Betsy Kraat
PARSIPPANY--Mack-Cali Realty Corporation, on behalf of the partnership that owns 1 Jefferson Road in Parsippany, has announced that Day Pitney LLP has signed a long-term lease for 100,000 sf at the property.
Oct
8
‘Location, Location, Location’ Takes Backseat to Economics in NJ Office Market
By Betsy Kraat
PARSIPPANY--Demonstrating that economics take precedence over location during lean times, Northern and Central New Jersey office users scoured the market for bargain-rate leases during the third quarter, reports FirstService Williams’ New Jersey office.
Oct
8
NAIOP New Jersey to Present Fifth Annual President's Awards
By Betsy Kraat
WEST ORANGE--The New Jersey Chapter of NAIOP (the commercial real estate development association) will honor its volunteers at the Fifth Annual President’s Awards Dinner on Monday, Nov. 9, at Mayfair Farms in West Orange. The event will begin at 4:30 p.m. with a networking cocktail reception, followed by dinner at 5:30 p.m.
“All members of NAIOP and the commercial real estate industry as a whole benefit from the hours and expertise contributed by our volunteers,” said NAIOP New Jersey President Jeff Milanaik, President of Heller Industrial Parks. “2009 marks our fifth year presenting the President’s Awards to those who consistently go the extra mile in service to the association.”
The following members will receive the President’s Award in honor of their exemplary service:
* Jorge Berkowitz, Langan Engineering and Environmental Services (Legislative Committee)
* Philip Cooney, NJ Carpenter Contractor Trust (Public Relations Committee)
* Donald Eisen, Cushman & Wakefield of NJ (Gala Committee)
* Anne Evans Estabrook, Elberon Development Co. (Iron Lady Award)
* Douglas Ewertsen, Wachovia Insurance Services, A Wells Fargo Company (Golf Committee)
* Steven Goldenberg, Fox Rothschild LLP (Energy Master Plan Task Force)
* William Harrison, Genova Burns & Vernoia (Regulatory Affairs Committee)
* James Jones, II, Price Waterhouse Coopers (Membership Committee)
* Jon Kelty, RCDolner (Education Committee)
* Janet Proscia, NorthMarq Capital (Community Action Project Committee)
The New Jersey Business and Industry Association will receive the Public Policy Partner Award for their support of NAIOP’s “Prescription for Prosperity,” a series of economic stimulus initiatives, and their assistance with the association’s grassroots advocacy efforts.
James Bruno, of Bridgewater, will receive the 2009 Frank D. Visceglia Memorial Scholarship for his Eagle Scout Leadership Service Project, a wildlife habitat trail between the Raritan River and the Somerset Patriots Ballpark.
NAIOP New Jersey
www.njnaiop.org
Oct
7
ScheinMedia Hosts New Jersey & Company's Third Annual Real Estate Conference in Newark
By Eric C. Peterson, Senior Correspondent
NEWARK--On the eve of an election that will determine who will reside in the Statehouse for the next four years, both public and private sector experts say New Jersey has improved its business competitiveness.
Oct
7
Cushman & Wakefield Inks Newark Branch Office Lease at One Gateway for Saiber LLC
By Betsy Kraat
NEWARK--Saiber LLC has leased 4,386 sf for a branch office at One Gateway Center in Newark, announced Cushman & Wakefield, Inc.
Oct
7
Sweetwater Construction Corp. Completes Corporate Fit-out for Siemens in Plainsboro
By Betsy Kraat
PLAINSBORO-- Sweetwater Construction Corp. has completed a corporate fit-out for Siemens Corp. of a fully occupied office and research building located at 755 College Rd. in Plainsboro.
Oct
6
Jones Lang LaSalle Assists in Closing $85M Sale of Trenton Office Buildings for Brandywine Realty Trust
By Betsy Kraat
TRENTON--Jones Lang LaSalle represented Brandywine Realty Trust in the sale of two Class A office buildings in Trenton for $85 million.
Oct
6
NAI James E. Hanson Tapped As Exclusive Sales Agent For 7,200 SF Catering Facility In East Brunswick
By Betsy Kraat
EAST BRUNSWICK--NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, has been named the exclusive sales agent for a 7,200-sf retail building, which is located at 16 Patrick Street in East Brunswick.
Oct
6
DNA Sequencing Company GENEWIZ Holds 10th Anniversary Celebration
By Betsy Kraat
SOUTH PLAINFIELD-- More than 80 business clients, employees, partners and advisors joined to celebrate GENEWIZ, Inc.’s 10th anniversary at a dinner event held Thursday evening.
Oct
5
Beckerman Public Relations Celebrates 20th Anniversary
By Betsy Kraat
HACKENSACK-- Beckerman Public Relations will celebrate its 20th anniversary this fall. The firm was founded by Michael Beckerman in 1989 and is experiencing one of its best years ever.
Oct
5
John Kaye Joins Cushman & Wakefield's Edison Office
By Betsy Kraat
EDISON--John A. Kaye has joined the Edison office of Cushman & Wakefield, Inc. as a director.
Oct
5
Jerome Leslie Eben, Past President of AIA-NJ, to Address Lawyers’ Group
By Betsy Kraat
NEW BRUNSWICK-- Jerome Leslie Eben, AIA, the past president of the New Jersey chapter of the American Institute of Architects (AIA-NJ), will speak on injured workers’ needs with regard to creating a barrier-free home environment at a seminar sponsored by the New Jersey Institute for Continuing Legal Education (NJICLE) on Oct. 7.
Oct
2
Cushman & Wakefield Sees Notable Retail Investment Trend
By Betsy Kraat
EAST RUTHERFORD--Bucking current real estate investment market trends, Cushman & Wakefield’s Metropolitan Area Capital Markets Group has closed 18 investment deals during the first eight months of 2009. One-third of that activity involved retail product.
Oct
2
Members of IOREBA and ICREW NJ Enjoy Night of Networking Aboard Boat Cruise
By Betsy Kraat
HOBOKEN--Successful commercial real estate professionals, brokers, owners and suppliers recently enjoyed an evening of networking aboard “Destiny,” one of the newest private yachts on the Hudson. The joint event between Industrial and Office Brokers Association of the New York Metropolitan Area (IOREBA) and Industrial/Commercial Real Estate Women, Inc. (ICREW NJ) attracted nearly 200 individuals.
Oct
2
Incentives Drive Deals at The Preserve in Matawan
By Betsy Kraat
MATAWAN--The Preserve, American Properties Realty's popular community in Matawan, has seen an increase in deals resulting from the $8,000 federal tax credit deadline of November 30th for first-time buyers, combined with their own $10,000 incentive.
Oct
1
NJ&Co Proud Sponsor of Northeast Green Building & Design Show in Edison, NJ
By Betsy Kraat
EDISON--New Jersey & Company is a proud sponsor of Northeast Green Building & Design Show - Oct 8 & 9 at the NJ Exposition Center in Edison; 10 am to 5 pm.
Oct
1
P&F Management Company, LLC Partners with City Of Hackensack to Transform Brownfield Into Upscale Residential Development
By Betsy Kraat
HACKENSACK--The environmental cleanup of a former oil storage site on South River Road in Hackensack, NJ, is progressing with construction of a multi-story residential complex slated to begin early next year, according to the owner of the property, P&F Management Company, LLC, a leading distressed real estate owner, developer and lender with holdings throughout New Jersey.
Oct
1
William S. Greenberg of McCarter & English Named Chairman of Reserve Forces Policy Board
By Betsy Kraat
NEWARK-- McCarter & English is pleased to announce that William S. Greenberg, a partner in the firm’s Newark office and a retired brigadier general, has been named Chairman of the Reserve Forces Policy Board. The appointment comes on the recommendation of The White House and with the approval of the Secretary of Defense.
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